On Tuesday, 1822 stocks advanced, 1995 declined and 133 remained unchanged, on the Bombay Stock Exchange (BSE) with an advance decline ratio of 0.91 indicating negative closing of stocks in broader markets. The trend of the major indices on Tuesday’s trading is given in the table below.
On NSE, 155 securities advanced and closed at a new 52-week high whereas 11 securities sank to close at their new 52-week lows. In sectoral indices, Nifty Auto, Nifty PSU Bank and Nifty Energy were among the biggest gainers. Nifty IT, Nifty Media and Nifty Metal were among the biggest losers.
Manappuram Finance surged 5.36% on Tuesday to hit a high of Rs207.30 on BSE after their subsidiary Asirvad Microfinance got approval from Sebi for an upcoming IPO. Asirvad Microfinance, a non-banking finance company specializing in microfinance for low-income women, has received the go-ahead to raise funds through this IPO after filing preliminary papers on October 4, 2023. The IPO, set to raise up to Rs1,500 crore, will not include an offer for sale (OFS) component. The company plans to utilize the funds to bolster its capital base for future business needs, as outlined in the DRHP. Established in 2008 with two branches in Tamil Nadu, Asirvad Micro Finance has since expanded to 22 states and 4 UTs, boasting 1,684 branches and serving 32.5 lakh active borrowers primarily in microfinance, alongside services like Loan against Gold and MSME loans.
KEC International (+2.18%) has secured new orders of Rs1,036 crore across its various businesses. Its Transmission & Distribution (T&D) business has secured orders for T&D projects in Middle East and Americas for setting up Overhead Transmission lines in the United Arab Emirates (UAE) and to supply of towers, hardware and poles in Americas
GMR Airports Infrastructure (-2.35%) has entered into a Share Purchase agreement to acquire 4,60,000 equity shares of WAISL (representing 8.40% of the equity shares of WAISL) from Utthishta Virat Fund, an existing shareholder of WAISL, for a total consideration of Rs56.66 crore. WAISL provides consulting expertise in airports system design, integration, implementation, testing and commissioning.
PSP Projects (-0.01%) has bagged work order worth Rs229.54 crore (excluding taxes) in institutional category for Construction of Mall & Multiplex for Thoth Mall and Commercial Real Estate at Surat, Gujarat.
RITES (-0.36%) has received a letter of acceptance (LoA) from Bangladesh Railway in connection with supply of 200 Broad Gauge (BG) Passenger Carriages to Bangladesh Railway including Drawing, Parts Catalogue, Capital & Maintenance Spares, Overseas Training, Study Tour, Service Engineers, De-processing and Commissioning etc. The order is expected to be executed in 36 months. Broad consideration or size of the order is $111 million.
KPI Green Energy (-5.00%) has received new orders aggregating to 74.30 MW for executing solar power projects. Within this allocation, the company has undertaken 27 MW capacity, which includes 20 MW capacity for the development of Solar power project forming part of the wind-solar hybrid power project.
Rail Vikas Nigam’s (RVNL) (-0.87%) joint venture (JV) -- KRDCL- RVNL JV has received Letter of Acceptance (LoA) from Southern Railway for ‘Redevelopment of Thiruvananthapuram Central Railway Station on Engineering, Procurement and Construction (EPC) mode.’ The project cost is Rs438.95 crore.
Tata Chemicals (-2.49%) has received an approval to raise funds through issuance of Non-Convertible Debentures (NCDs) on private placement basis, for an amount up to Rs2,000 crore. Indian Hotels Company (IHCL) has signed a Ginger branded hotel in Varanasi, Uttar Pradesh. The hotel is a Greenfield project on a fully fitted operating lease. Bharat Heavy Electricals (BHEL) (+1.55%) has entered into a strategic partnership agreement for the Railway Signalling Business with M/s HIMA Middle East FZE, Dubai (A wholly owned subsidiary of HIMA Paul Hildebrandt GmbH, Germany). HIMA is world’s leading solution provider for safety-related automation in the railways and process industries.
Granules India’s (+1.07%) wholly owned foreign subsidiary - Granules Pharmaceuticals, Inc (GPI) has received US Food & Drug Administration (USFDA) approval for its Abbreviated New Drug Application (ANDA) for Colchicine Capsules, 0.6 mg.
Earnings:
Symphony (+1.30%): Net Sales was Rs332 crore in Q4FY24 up 8% YoY (Rs308 crore). Net Profit was Rs48.0 crore in Q4FY24 up 200% YoY (Rs16 crore)
REC (+9.94%): Net Sales was Rs12,677 crore in Q4FY24 up 24%YoY (Rs10,243 crore). Net Profit was Rs4,079 crore in Q4FY24 up 33% YoY (Rs3,065 crore)
Central Bank of India (-1.61%): Net Sales was Rs8,371 crore in Q4FY24 up 17% YoY (Rs7,171 crore). Net Profit was Rs817 crore in Q4FY24 up 38% YoY (Rs592 crore)
Newgen Software (+7.45%): Net Sales was Rs350 crore in Q4FY24 up 23% YoY (Rs283 crore). Net Profit was Rs101 crore in Q4FY24 up 31% YoY (Rs77.2 crore)
Star Health Insurance (+1.66%): Net Sales was Rs3,689 crore in Q4FY24 up 18% YoY (Rs3,131 crore). Net Profit was Rs142 crore in Q4FY24 up 40% YoY (Rs102 crore)
The top gainers and top losers of the major indices are given in the table below:
The closing values of the major Asian indices are given in the table below:
